The balance sheet, the quarter's capital flow, the debt schedule and the capital structure of the quarter shown above.
Enlarge
Assets $1,003.31BLiabilities $325.76BEquity $677.55Bas of Sep 30, 2026
The numbers behind the diagram
All figures in billions of U.S. dollars, for Q3 FY26 (period ends Sep 30, 2026).
Item
Value
Share
Assets
$1,003.31B
100%
Cash
$56.33B
6%
Short-term investments
$208.76B
21%
Receivables
$72.78B
7%
Inventory
$13.31B
1%
Other current assets
$23.48B
2%
Property & equipment
$372.83B
37%
Lease right-of-use
$20.27B
2%
Goodwill
$58.12B
6%
Intangibles
$8.82B
1%
Indefinite-lived intangibles
$0.27B
0%
Deferred tax assets
$1.46B
0%
Other assets
$166.89B
17%
Liabilities
$325.76B
32%
Payables
$21.98B
2%
Accrued liabilities
$74.32B
7%
Deferred revenue
$9.43B
1%
Short-term debt
$1.02B
0%
Other current liabilities
$28.20B
3%
Long-term debt
$125.10B
12%
Lease liabilities
$16.82B
2%
Deferred tax
$27.83B
3%
Other liabilities
$21.08B
2%
Equity
$677.55B
68%
Stockholders' equity
$677.55B
68%
Enlarge
Money moved $71.77BFree cash flow −$9.07BJul 1 – Sep 30, 2026Quarter derived from year-to-date statements.
The numbers behind the diagram
All figures in billions of U.S. dollars, for Q3 FY26 (period ends Sep 30, 2026).
Item
Value
Share
Where the money came from
$71.77B
100%
Operating cash flow
$42.29B
59%
Debt raised
$29.00B
40%
Other financing
$0.44B
1%
Currency effect
$0.05B
0%
Where it went
−$71.77B
100%
Capital expenditure
−$51.36B
72%
Investments bought, net
−$18.17B
25%
Other investing
−$1.83B
3%
Added to cash
−$0.42B
1%
Enlarge
Total debt $126.1BCash & short-term investments $265.1BNet cash $139.0BOperating cash flow, last 4 quarters $179.6BInterest expense, last 4 quarters $3.1B
Maturities as filed as of Dec 31, 2025; debt and cash as of Sep 30, 2026.
The numbers behind the diagram
Principal due, as of Dec 31, 2025
Due
Value
2026
$2.0B
2027
$1.0B
2028
$2.7B
2029
$1.8B
2030
$5.5B
after 2030
$36.1B
Instruments, as of Dec 31, 2025
Due
Item
Coupon
Value
2020
Notes
0.8%
$9.0B
2028
USD notes floating rate
$0.5B
–
2025 USD notes
4.89%
$22.5B
–
2025 USD notes
3.88%
$22.5B
–
2025 USD fixed rate notes
$17.0B
–
2025 euro notes
2.38%
$15.6B
–
2025 euro notes
3.44%
$13.3B
–
2016 notes
2%
$2.0B
–
2025 USD floating rate notes
$0.5B
Enlarge
Debt to equity 0.19×Net cash $139.0BInterest coverage 51.03×Return on invested capital 30.1%Cost of debt, after tax 3.3%Book values as of Sep 30, 2026.
EBIT, EBITDA, interest and tax are the last four quarters, Oct 1, 2025 to Sep 30, 2026.
The cost of equity, the weighted average cost of capital and the value creation spread need the share price, beta and a risk-free rate, which the filing does not carry. They stay empty rather than estimated.
The numbers behind the diagram
All figures in billions of U.S. dollars, for Q3 FY26 (period ends Sep 30, 2026).
Item
Value
How it is computed
Total debt short-term and long-term borrowings, as on the debt tab
$126.1B
short-term and long-term borrowings, as on the debt tab
Equity, book value stockholders' equity incl. minority interests, as on the balance sheet
$677.5B
stockholders' equity incl. minority interests, as on the balance sheet
Total capital total debt + equity
$803.7B
total debt + equity
Debt share total debt / total capital
16%
total debt / total capital
Equity share equity / total capital
84%
equity / total capital
Net cash total debt − cash and short-term investments
$139.0B
total debt − cash and short-term investments
EBIT, last 4 quarters operating income, four quarters summed
$157.0B
operating income, four quarters summed
Depreciation & amortisation, last 4 quarters from the cash flow statement, four quarters summed
$28.0B
from the cash flow statement, four quarters summed
EBITDA, last 4 quarters EBIT + depreciation & amortisation
$185.0B
EBIT + depreciation & amortisation
Interest expense, last 4 quarters four quarters summed
$3.1B
four quarters summed
Debt to equity total debt / equity
0.19×
total debt / equity
Net debt to EBITDA net debt / EBITDA
–net cash $139.0B
net debt / EBITDA
Interest coverage EBIT / interest expense
51.03×
EBIT / interest expense
Effective tax rate income tax / pretax income, kept within 0 to 50%
Weighted average cost of capital cost of equity and after-tax cost of debt, weighted by market value
–needs market data
cost of equity and after-tax cost of debt, weighted by market value
Value creation spread ROIC − WACC
–needs market data
ROIC − WACC
Enlarge
Assets $921.98BLiabilities $281.50BEquity $640.48Bas of Jun 30, 2026
The numbers behind the diagram
All figures in billions of U.S. dollars, for Q2 FY26 (period ends Jun 30, 2026).
Item
Value
Share
Assets
$921.98B
100%
Cash
$55.91B
6%
Short-term investments
$186.56B
20%
Receivables
$69.18B
8%
Inventory
$9.99B
1%
Other current assets
$21.88B
2%
Property & equipment
$321.21B
35%
Lease right-of-use
$17.69B
2%
Goodwill
$57.83B
6%
Intangibles
$9.11B
1%
Indefinite-lived intangibles
$0.21B
0%
Deferred tax assets
$1.45B
0%
Other assets
$170.96B
19%
Liabilities
$281.50B
31%
Payables
$20.26B
2%
Accrued liabilities
$73.01B
8%
Deferred revenue
$7.15B
1%
Short-term debt
$2.00B
0%
Other current liabilities
$28.17B
3%
Long-term debt
$98.17B
11%
Lease liabilities
$14.59B
2%
Deferred tax
$22.82B
2%
Other liabilities
$15.33B
2%
Equity
$640.48B
69%
Stockholders' equity
$640.48B
69%
Enlarge
Money moved $100.31BFree cash flow −$5.86BApr 1 – Jun 30, 2026Quarter derived from year-to-date statements.
The numbers behind the diagram
All figures in billions of U.S. dollars, for Q2 FY26 (period ends Jun 30, 2026).
Item
Value
Share
Where the money came from
$100.31B
100%
Operating cash flow
$39.07B
39%
Debt raised
$24.85B
25%
Other financing
$36.40B
36%
Where it went
−$100.31B
100%
Capital expenditure
−$44.92B
45%
Investments bought, net
−$16.74B
17%
Other investing
−$20.77B
21%
Currency effect
−$0.03B
0%
Added to cash
−$17.85B
18%
Enlarge
Total debt $100.2BCash & short-term investments $242.5BNet cash $142.3BOperating cash flow, last 4 quarters $185.7BInterest expense, last 4 quarters $2.3B
Maturities as filed as of Dec 31, 2025; debt and cash as of Jun 30, 2026.
The numbers behind the diagram
Principal due, as of Dec 31, 2025
Due
Value
2026
$2.0B
2027
$1.0B
2028
$2.7B
2029
$1.8B
2030
$5.5B
after 2030
$36.1B
Instruments, as of Dec 31, 2025
Due
Item
Coupon
Value
2020
Notes
0.8%
$9.0B
2028
USD notes floating rate
$0.5B
–
2025 USD notes
4.89%
$22.5B
–
2025 USD notes
3.88%
$22.5B
–
2025 USD fixed rate notes
$17.0B
–
2025 euro notes
2.38%
$15.6B
–
2025 euro notes
3.44%
$13.3B
–
2016 notes
2%
$2.0B
–
2025 USD floating rate notes
$0.5B
Enlarge
Debt to equity 0.16×Net cash $142.3BInterest coverage 65.55×Return on invested capital 30.4%Cost of debt, after tax 2.9%Book values as of Jun 30, 2026.
EBIT, EBITDA, interest and tax are the last four quarters, Jul 1, 2025 to Jun 30, 2026.
The cost of equity, the weighted average cost of capital and the value creation spread need the share price, beta and a risk-free rate, which the filing does not carry. They stay empty rather than estimated.
The numbers behind the diagram
All figures in billions of U.S. dollars, for Q2 FY26 (period ends Jun 30, 2026).
Item
Value
How it is computed
Total debt short-term and long-term borrowings, as on the debt tab
$100.2B
short-term and long-term borrowings, as on the debt tab
Equity, book value stockholders' equity incl. minority interests, as on the balance sheet
$640.5B
stockholders' equity incl. minority interests, as on the balance sheet
Total capital total debt + equity
$740.6B
total debt + equity
Debt share total debt / total capital
14%
total debt / total capital
Equity share equity / total capital
86%
equity / total capital
Net cash total debt − cash and short-term investments
$142.3B
total debt − cash and short-term investments
EBIT, last 4 quarters operating income, four quarters summed
$147.6B
operating income, four quarters summed
Depreciation & amortisation, last 4 quarters from the cash flow statement, four quarters summed
$25.2B
from the cash flow statement, four quarters summed
EBITDA, last 4 quarters EBIT + depreciation & amortisation
$172.9B
EBIT + depreciation & amortisation
Interest expense, last 4 quarters four quarters summed
$2.3B
four quarters summed
Debt to equity total debt / equity
0.16×
total debt / equity
Net debt to EBITDA net debt / EBITDA
–net cash $142.3B
net debt / EBITDA
Interest coverage EBIT / interest expense
65.55×
EBIT / interest expense
Effective tax rate income tax / pretax income, kept within 0 to 50%
Weighted average cost of capital cost of equity and after-tax cost of debt, weighted by market value
–needs market data
cost of equity and after-tax cost of debt, weighted by market value
Value creation spread ROIC − WACC
–needs market data
ROIC − WACC
Enlarge
Assets $703.92BLiabilities $225.17BEquity $478.75Bas of Mar 31, 2026
The numbers behind the diagram
All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 31, 2026).
Item
Value
Share
Assets
$703.92B
100%
Cash
$38.06B
5%
Short-term investments
$88.78B
13%
Receivables
$63.00B
9%
Other current assets
$23.91B
3%
Property & equipment
$281.02B
40%
Lease right-of-use
$15.51B
2%
Goodwill
$57.77B
8%
Intangibles
$9.44B
1%
Indefinite-lived intangibles
$0.20B
0%
Deferred tax assets
$2.00B
0%
Other assets
$124.23B
18%
Liabilities
$225.17B
32%
Payables
$16.85B
2%
Accrued liabilities
$63.02B
9%
Deferred revenue
$7.16B
1%
Short-term debt
$2.00B
0%
Other current liabilities
$25.09B
4%
Long-term debt
$77.50B
11%
Lease liabilities
$12.98B
2%
Other liabilities
$20.56B
3%
Equity
$478.75B
68%
Stockholders' equity
$478.75B
68%
Enlarge
Money moved $84.13BFree cash flow $10.12BJan 1 – Mar 31, 2026
The numbers behind the diagram
All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 31, 2026).
Item
Value
Share
Where the money came from
$84.13B
100%
Operating cash flow
$45.79B
54%
Investments sold, net
$6.96B
8%
Debt raised
$31.38B
37%
Where it went
−$84.13B
100%
Capital expenditure
−$35.67B
42%
Other investing
−$34.68B
41%
Dividends
−$2.54B
3%
Other financing
−$3.76B
4%
Currency effect
−$0.12B
0%
Added to cash
−$7.36B
9%
Enlarge
Total debt $79.5BCash & short-term investments $126.8BNet cash $47.3BOperating cash flow, last 4 quarters $174.4BInterest expense, last 4 quarters $1.2B
Maturities as filed as of Dec 31, 2025; debt and cash as of Mar 31, 2026.
The numbers behind the diagram
Principal due, as of Dec 31, 2025
Due
Value
2026
$2.0B
2027
$1.0B
2028
$2.7B
2029
$1.8B
2030
$5.5B
after 2030
$36.1B
Instruments, as of Dec 31, 2025
Due
Item
Coupon
Value
2020
Notes
0.8%
$9.0B
2028
USD notes floating rate
$0.5B
–
2025 USD notes
4.89%
$22.5B
–
2025 USD notes
3.88%
$22.5B
–
2025 USD fixed rate notes
$17.0B
–
2025 euro notes
2.38%
$15.6B
–
2025 euro notes
3.44%
$13.3B
–
2016 notes
2%
$2.0B
–
2025 USD floating rate notes
$0.5B
Enlarge
Debt to equity 0.17×Net cash $47.3BInterest coverage 111.85×Return on invested capital 32.7%Cost of debt, after tax 2.2%Book values as of Mar 31, 2026.
EBIT, EBITDA, interest and tax are the last four quarters, Apr 1, 2025 to Mar 31, 2026.
The cost of equity, the weighted average cost of capital and the value creation spread need the share price, beta and a risk-free rate, which the filing does not carry. They stay empty rather than estimated.
The numbers behind the diagram
All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 31, 2026).
Item
Value
How it is computed
Total debt short-term and long-term borrowings, as on the debt tab
$79.5B
short-term and long-term borrowings, as on the debt tab
Equity, book value stockholders' equity incl. minority interests, as on the balance sheet
$478.7B
stockholders' equity incl. minority interests, as on the balance sheet
Total capital total debt + equity
$558.2B
total debt + equity
Debt share total debt / total capital
14%
total debt / total capital
Equity share equity / total capital
86%
equity / total capital
Net cash total debt − cash and short-term investments
$47.3B
total debt − cash and short-term investments
EBIT, last 4 quarters operating income, four quarters summed
$138.1B
operating income, four quarters summed
Depreciation & amortisation, last 4 quarters from the cash flow statement, four quarters summed
$23.1B
from the cash flow statement, four quarters summed
EBITDA, last 4 quarters EBIT + depreciation & amortisation
$161.3B
EBIT + depreciation & amortisation
Interest expense, last 4 quarters four quarters summed
$1.2B
four quarters summed
Debt to equity total debt / equity
0.17×
total debt / equity
Net debt to EBITDA net debt / EBITDA
–net cash $47.3B
net debt / EBITDA
Interest coverage EBIT / interest expense
111.85×
EBIT / interest expense
Effective tax rate income tax / pretax income, kept within 0 to 50%
Weighted average cost of capital cost of equity and after-tax cost of debt, weighted by market value
–needs market data
cost of equity and after-tax cost of debt, weighted by market value
Value creation spread ROIC − WACC
–needs market data
ROIC − WACC
Enlarge
Assets $595.28BLiabilities $180.02BEquity $415.27Bas of Dec 31, 2025
The numbers behind the diagram
All figures in billions of U.S. dollars, for Q4 FY25 (period ends Dec 31, 2025).
Item
Value
Share
Assets
$595.28B
100%
Cash
$30.71B
5%
Short-term investments
$96.14B
16%
Receivables
$62.89B
11%
Inventory
$2.44B
0%
Other current assets
$13.87B
2%
Property & equipment
$246.60B
41%
Lease right-of-use
$15.22B
3%
Goodwill
$33.38B
6%
Intangibles
$1.28B
0%
Indefinite-lived intangibles
$0.20B
0%
Deferred tax assets
$9.11B
2%
Other assets
$83.45B
14%
Liabilities
$180.02B
30%
Payables
$12.20B
2%
Accrued liabilities
$55.56B
9%
Deferred revenue
$6.58B
1%
Short-term debt
$2.00B
0%
Other current liabilities
$24.58B
4%
Long-term debt
$46.55B
8%
Lease liabilities
$12.74B
2%
Deferred tax
$0.92B
0%
Other liabilities
$18.89B
3%
Equity
$415.27B
70%
Stockholders' equity
$415.27B
70%
Enlarge
Money moved $78.96BFree cash flow $24.55BOct 1 – Dec 31, 2025Quarter derived from year-to-date statements.
The numbers behind the diagram
All figures in billions of U.S. dollars, for Q4 FY25 (period ends Dec 31, 2025).
Item
Value
Share
Where the money came from
$78.96B
100%
Operating cash flow
$52.40B
66%
Debt raised
$26.56B
34%
Where it went
−$78.96B
100%
Capital expenditure
−$27.85B
35%
Investments bought, net
−$21.00B
27%
Other investing
−$2.93B
4%
Share buybacks
−$5.50B
7%
Dividends
−$2.54B
3%
Other financing
−$11.50B
15%
Currency effect
−$0.04B
0%
Added to cash
−$7.62B
10%
Enlarge
Total debt $48.5BCash & short-term investments $126.8BNet cash $78.3BOperating cash flow, last 4 quarters $164.7BInterest expense, last 4 quarters $0.7B
Maturities as filed as of Dec 31, 2025; debt and cash as of Dec 31, 2025.
The numbers behind the diagram
Principal due, as of Dec 31, 2025
Due
Value
2026
$2.0B
2027
$1.0B
2028
$2.7B
2029
$1.8B
2030
$5.5B
after 2030
$36.1B
Instruments, as of Dec 31, 2025
Due
Item
Coupon
Value
2020
Notes
0.8%
$9.0B
2028
USD notes floating rate
$0.5B
–
2025 USD notes
4.89%
$22.5B
–
2025 USD notes
3.88%
$22.5B
–
2025 USD fixed rate notes
$17.0B
–
2025 euro notes
2.38%
$15.6B
–
2025 euro notes
3.44%
$13.3B
–
2016 notes
2%
$2.0B
–
2025 USD floating rate notes
$0.5B
Enlarge
Debt to equity 0.12×Net cash $78.3BInterest coverage 175.32×Return on invested capital 37.0%Cost of debt, after tax 2.0%Book values as of Dec 31, 2025.
EBIT, EBITDA, interest and tax are the last four quarters, Jan 1, 2025 to Dec 31, 2025.
The cost of equity, the weighted average cost of capital and the value creation spread need the share price, beta and a risk-free rate, which the filing does not carry. They stay empty rather than estimated.
The numbers behind the diagram
All figures in billions of U.S. dollars, for Q4 FY25 (period ends Dec 31, 2025).
Item
Value
How it is computed
Total debt short-term and long-term borrowings, as on the debt tab
$48.5B
short-term and long-term borrowings, as on the debt tab
Equity, book value stockholders' equity incl. minority interests, as on the balance sheet
$415.3B
stockholders' equity incl. minority interests, as on the balance sheet
Total capital total debt + equity
$463.8B
total debt + equity
Debt share total debt / total capital
10%
total debt / total capital
Equity share equity / total capital
90%
equity / total capital
Net cash total debt − cash and short-term investments
$78.3B
total debt − cash and short-term investments
EBIT, last 4 quarters operating income, four quarters summed
$129.0B
operating income, four quarters summed
Depreciation & amortisation, last 4 quarters from the cash flow statement, four quarters summed
$21.1B
from the cash flow statement, four quarters summed
EBITDA, last 4 quarters EBIT + depreciation & amortisation
$150.2B
EBIT + depreciation & amortisation
Interest expense, last 4 quarters four quarters summed
$0.7B
four quarters summed
Debt to equity total debt / equity
0.12×
total debt / equity
Net debt to EBITDA net debt / EBITDA
–net cash $78.3B
net debt / EBITDA
Interest coverage EBIT / interest expense
175.32×
EBIT / interest expense
Effective tax rate income tax / pretax income, kept within 0 to 50%
Weighted average cost of capital cost of equity and after-tax cost of debt, weighted by market value
–needs market data
cost of equity and after-tax cost of debt, weighted by market value
Value creation spread ROIC − WACC
–needs market data
ROIC − WACC
Enlarge
Assets $536.5BLiabilities $149.6BEquity $386.9Bas of Sep 30, 2025
The numbers behind the diagram
All figures in billions of U.S. dollars, for Q3 FY25 (period ends Sep 30, 2025).
Item
Value
Share
Assets
$536.5B
100%
Cash
$23.1B
4%
Short-term investments
$75.4B
14%
Receivables
$57.1B
11%
Other current assets
$18.3B
3%
Property & equipment
$223.8B
42%
Lease right-of-use
$14.5B
3%
Goodwill
$33.3B
6%
Long-term investments
$2.3B
0%
Deferred tax assets
$10.3B
2%
Other assets
$78.3B
15%
Liabilities
$149.6B
28%
Payables
$10.5B
2%
Accrued liabilities
$59.4B
11%
Deferred revenue
$5.5B
1%
Short-term debt
$2.0B
0%
Other current liabilities
$31.1B
6%
Long-term debt
$21.6B
4%
Lease liabilities
$12.1B
2%
Other liabilities
$7.3B
1%
Equity
$386.9B
72%
Stockholders' equity
$386.9B
72%
Enlarge
Money moved $55.04BFree cash flow $24.46BJul 1 – Sep 30, 2025Quarter derived from year-to-date statements.
The numbers behind the diagram
All figures in billions of U.S. dollars, for Q3 FY25 (period ends Sep 30, 2025).
Item
Value
Share
Where the money came from
$55.04B
100%
Operating cash flow
$48.41B
88%
Debt raised
$6.62B
12%
Where it went
−$55.04B
100%
Capital expenditure
−$23.95B
44%
Investments bought, net
−$0.59B
1%
Other investing
−$3.23B
6%
Share buybacks
−$11.90B
22%
Dividends
−$2.54B
5%
Other financing
−$10.57B
19%
Currency effect
−$0.20B
0%
Added to cash
−$2.05B
4%
Enlarge
Total debt $26.6BCash & short-term investments $98.5BNet cash $71.9BOperating cash flow, last 4 quarters $151.4BInterest expense, last 4 quarters $0.5B
Maturities as filed as of Dec 31, 2024; debt and cash as of Sep 30, 2025.
The numbers behind the diagram
Principal due, as of Dec 31, 2024
Due
Value
2025
$1.0B
2026
$2.0B
2027
$1.0B
2028
$0.0B
2029
$0.0B
after 2029
$8.0B
Instruments, as of Dec 31, 2024
Due
Item
Coupon
Value
2020
Notes
0.45%
$10.0B
–
2016 notes
2%
$2.0B
Enlarge
Debt to equity 0.07×Net cash $71.89BInterest coverage 252.70×Return on invested capital 36.9%Cost of debt, after tax 2.0%Book values as of Sep 30, 2025.
EBIT, EBITDA, interest and tax are the last four quarters, Oct 1, 2024 to Sep 30, 2025.
The cost of equity, the weighted average cost of capital and the value creation spread need the share price, beta and a risk-free rate, which the filing does not carry. They stay empty rather than estimated.
The numbers behind the diagram
All figures in billions of U.S. dollars, for Q3 FY25 (period ends Sep 30, 2025).
Item
Value
How it is computed
Total debt short-term and long-term borrowings, as on the debt tab
$26.60B
short-term and long-term borrowings, as on the debt tab
Equity, book value stockholders' equity incl. minority interests, as on the balance sheet
$386.87B
stockholders' equity incl. minority interests, as on the balance sheet
Total capital total debt + equity
$413.47B
total debt + equity
Debt share total debt / total capital
6%
total debt / total capital
Equity share equity / total capital
94%
equity / total capital
Net cash total debt − cash and short-term investments
$71.89B
total debt − cash and short-term investments
EBIT, last 4 quarters operating income, four quarters summed
$124.08B
operating income, four quarters summed
Depreciation & amortisation, last 4 quarters from the cash flow statement, four quarters summed
$19.30B
from the cash flow statement, four quarters summed
EBITDA, last 4 quarters EBIT + depreciation & amortisation
$143.38B
EBIT + depreciation & amortisation
Interest expense, last 4 quarters four quarters summed
$0.49B
four quarters summed
Debt to equity total debt / equity
0.07×
total debt / equity
Net debt to EBITDA net debt / EBITDA
–net cash $71.89B
net debt / EBITDA
Interest coverage EBIT / interest expense
252.70×
EBIT / interest expense
Effective tax rate income tax / pretax income, kept within 0 to 50%
Weighted average cost of capital cost of equity and after-tax cost of debt, weighted by market value
–needs market data
cost of equity and after-tax cost of debt, weighted by market value
Value creation spread ROIC − WACC
–needs market data
ROIC − WACC
Enlarge
Assets $502.1BLiabilities $139.1BEquity $362.9Bas of Jun 30, 2025
The numbers behind the diagram
All figures in billions of U.S. dollars, for Q2 FY25 (period ends Jun 30, 2025).
Item
Value
Share
Assets
$502.1B
100%
Cash
$21.0B
4%
Short-term investments
$74.1B
15%
Receivables
$55.0B
11%
Other current assets
$16.0B
3%
Property & equipment
$203.2B
40%
Lease right-of-use
$14.3B
3%
Goodwill
$32.3B
6%
Long-term investments
$2.3B
0%
Deferred tax assets
$19.3B
4%
Other assets
$64.4B
13%
Liabilities
$139.1B
28%
Payables
$8.3B
2%
Accrued liabilities
$52.0B
10%
Deferred revenue
$5.0B
1%
Short-term debt
$1.0B
0%
Other current liabilities
$30.0B
6%
Long-term debt
$23.6B
5%
Lease liabilities
$12.0B
2%
Other liabilities
$7.2B
1%
Equity
$362.9B
72%
Stockholders' equity
$362.9B
72%
Enlarge
Money moved $57.22BFree cash flow $5.30BApr 1 – Jun 30, 2025Quarter derived from year-to-date statements.
The numbers behind the diagram
All figures in billions of U.S. dollars, for Q2 FY25 (period ends Jun 30, 2025).
Item
Value
Share
Where the money came from
$57.22B
100%
Operating cash flow
$27.75B
48%
Debt raised
$26.85B
47%
Currency effect
$0.40B
1%
Taken from cash
$2.23B
4%
Where it went
−$57.22B
100%
Capital expenditure
−$22.45B
39%
Investments bought, net
−$0.83B
1%
Other investing
−$1.27B
2%
Share buybacks
−$13.24B
23%
Dividends
−$2.54B
4%
Other financing
−$16.90B
30%
Enlarge
Total debt $27.6BCash & short-term investments $95.1BNet cash $67.5BOperating cash flow, last 4 quarters $133.7BInterest expense, last 4 quarters $0.4B
Maturities as filed as of Dec 31, 2024; debt and cash as of Jun 30, 2025.
The numbers behind the diagram
Principal due, as of Dec 31, 2024
Due
Value
2025
$1.0B
2026
$2.0B
2027
$1.0B
2028
$0.0B
2029
$0.0B
after 2029
$8.0B
Instruments, as of Dec 31, 2024
Due
Item
Coupon
Value
2020
Notes
0.45%
$10.0B
–
2016 notes
2%
$2.0B
Enlarge
Debt to equity 0.08×Net cash $67.54BInterest coverage 301.92×Return on invested capital 39.5%Cost of debt, after tax 1.6%Book values as of Jun 30, 2025.
EBIT, EBITDA, interest and tax are the last four quarters, Jul 1, 2024 to Jun 30, 2025.
The cost of equity, the weighted average cost of capital and the value creation spread need the share price, beta and a risk-free rate, which the filing does not carry. They stay empty rather than estimated.
The numbers behind the diagram
All figures in billions of U.S. dollars, for Q2 FY25 (period ends Jun 30, 2025).
Item
Value
How it is computed
Total debt short-term and long-term borrowings, as on the debt tab
$27.61B
short-term and long-term borrowings, as on the debt tab
Equity, book value stockholders' equity incl. minority interests, as on the balance sheet
$362.92B
stockholders' equity incl. minority interests, as on the balance sheet
Total capital total debt + equity
$390.52B
total debt + equity
Debt share total debt / total capital
7%
total debt / total capital
Equity share equity / total capital
93%
equity / total capital
Net cash total debt − cash and short-term investments
$67.54B
total debt − cash and short-term investments
EBIT, last 4 quarters operating income, four quarters summed
$121.37B
operating income, four quarters summed
Depreciation & amortisation, last 4 quarters from the cash flow statement, four quarters summed
$17.68B
from the cash flow statement, four quarters summed
EBITDA, last 4 quarters EBIT + depreciation & amortisation
$139.05B
EBIT + depreciation & amortisation
Interest expense, last 4 quarters four quarters summed
$0.40B
four quarters summed
Debt to equity total debt / equity
0.08×
total debt / equity
Net debt to EBITDA net debt / EBITDA
–net cash $67.54B
net debt / EBITDA
Interest coverage EBIT / interest expense
301.92×
EBIT / interest expense
Effective tax rate income tax / pretax income, kept within 0 to 50%
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